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Who Needs Life Insurance?

When trying to wrap your head around life insurance, one good place to start is to look at the groups that historically have utilized life insurance. There are also a few groups that usually wouldn’t—but you might see some surprise reasons why they would want to buy life insurance as well.


By far the most common and obvious for life insurance is parents. When you have one or more children, you have others who depend on you and making sure they can be taken care of if anything happens to you is an absolute must. Term life insurance is good for parents on a budget, while permanent life insurance will make sure children are cared for not just in their youth but into young adulthood and beyond.

Married Couples

Any married couple is likely going to depend on one another for their lives together. This can especially be true of any long-term debts—like a mortgage—that you are both on the hook for. By buying a dependable life insurance policy, you can take steps so that your spouse won’t be burdened by your joint debt and any other expenses that may arise.


As a retiree, you may be nearing some long-standing goals for your savings and not have the burden of supporting your children anymore. But it’s still worth wondering just how prepared you are and if you have a spouse that you want to thrive for many years after your passing at the same standard of living. Plus, many retirees may still want to be able to support their adult children, or their grandchildren, for years to come.

Young Professionals

Often the most unlikely candidate for life insurance, young professionals without any spouse or children may not see the need for life insurance. More often than not, they are correct.

But if you are a young professional with student debt, a life insurance policy can make sure others are saddled with that debt in case something unexpected happens. Young professional could also have another incentive to get life insurance before they are married or have children—getting life insurance while you are younger and healthier can help you lock in a low premium rate that could save you money or headaches when you are older.

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